Mambila Power, East-West road won’t benefit from $311m Abacha loot – Presidency

The Presidency has clarified that two of the five priority projects of the administration; Mambilla Power and East-West Road projects, not benefit from recently repatriated $311 million Abacha loot.

This was contained in a statement on Wednesday by the Senior Special Assistant to the President on Media and Publicity, Mallam Garba Shehu.

In an earlier statement, Shehu had included Mambila Power Project as one of the beneficiaries.

But after further clarification, he said he found out that only three of the five, excluding the Mambila Power and the East-West Road projects, would benefit from it.

“The recently repatriated Sani Abacha loot will go towards three of the Federal Government’s five priority projects, excluding the Mambilla power and East-West road projects.

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“In an earlier statement, I had mistakenly noted that the Mambilla was one of five priority projects to benefit from the $311 million Abacha loot under the Presidential Infrastructure Development Fund (PIDF) managed by the Nigeria Sovereign Investment Authority (NSIA). That error is regretted.

“Although the Mambilla and East-West expressway are regarded under the PIDF as priority projects, I have ascertained that they are exempt from the agreement signed between the Nigerian, United States and British territory of Jersey governments.

“According to the document, only the second Niger bridge, Abuja-Kaduna-Kano expressway, and Lagos-Ibadan expressway will benefit from the repatriated funds. The funds are domiciled in the NSIA.

“All print and online media should please take note of this correction and make the necessary adjustments to their previous publications on the issue,” the statement said.